Small and Medium-Sized Business Recovery Grant Eligibility Changes: Tourism Businesses Eligible for Up to $45,000 Non-Repayable Grant
The B.C. government has enhanced the Small and Medium-Sized Business Recovery Grant program to make it easier for businesses to qualify and has increased support for those in the hard-hit tourism sector.
Tourism businesses impacted by the pandemic will be eligible to receive between $10,000 and $45,000 in a non-repayable grant.
Adjustments made to the Small and Medium-Sized Business Recovery Grant program include a streamlined application process and simplified criteria to allow more businesses to be eligible.
Eligibility changes include:
instead of requiring a revenue loss of 50% or more, the criteria has been reduced to 30% at the time of application;
the requirement to list a variety of remittance accounts, like the registration numbers for the goods and services tax, provincial sales tax and WorkSafeBC, have been removed;
businesses that have been in operation for the last 18 months are now eligible (reduced from three years). This means businesses only need to have been in operation nine months before the pandemic to apply for the grant;
applications can now be submitted by sole proprietors; and
businesses that are temporarily closed or seasonal are now eligible for the program.
The revised application process and eligibility criteria are now in place. Small- and medium-sized businesses are encouraged to apply.
For more information on the Small and Medium-Sized Business Recovery Grant program, including the application process and eligibility, visit: https://www2.gov.bc.ca/gov/content/economic-recovery/business-recovery-grant
About StrongerBC
The grant is part of StrongerBC: BC’s Economic Recovery Plan, which outlines the steps the Government of British Columbia is taking to help people, businesses and communities come out of COVID-19 stronger and better prepared. The changes to the Small and Medium-Sized Business Recovery Grant program were made in consultation with industry associations and business groups that represent the small and medium-sized business community.
For more information on StrongerBC, visit: StrongerBC.gov.bc.ca
